I experienced this error yesterday on my new MBA M1 too for the first time with 11.5.2 installed.
I had nothing external connected to my Mac, not even the power cable (since I read that some claim this could be related to connected external WD drives).
I found under /Library/Logs/DiagnosticReports an panic-base-xxx.paninc file:
{"bug_type":"210","timestamp":"PRIVATE","os_version":"macOS 11.5.2 (20G95)","incident_id":"PRIVATE"}
{
"build" : "macOS 11.5.2 (20G95)",
"product" : "MacBookAir10,1",
"kernel" : "Darwin Kernel Version 20.6.0: Wed Jun 23 00:26:27 PDT 2021; root:xnu-7195.141.2~5\/RELEASE_ARM64_T8101",
"incident" : "PRIVATE",
"crashReporterKey" : "PRIVATE",
"date" : "2001-01-01 01:00:00.00 +0100",
"panicString" : "SOCD report detected: (AP watchdog expired)",
"panicFlags" : "0x0",
"foregroundAppHash" : "0",
"SOCDContainer" : "PRIVATE",
"SOCDPanicString" : "SOCD report detected: (AP watchdog expired)",
"binaryImages" : []
}
Decoding the SOCDContainer entry as base64 looks like a small part of a core-dump or something similar to me.
But I have no clue to witch binary it could match? But sure an Apple engineer would have this missing information.
And since this error in the wild since a while now they should have at least a clue what could causing it. But there is just silence, as always.